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USD/JPY Discussion

  • #3,861
  • Aug 22, 2007 12:31am Aug 22, 2007 12:31am
Quoting trader07
You think it's going to retrace lower than 114.80?
It may - won't know until it turns.
The Dove - Forex Trainer
  • #3,862
  • Aug 22, 2007 12:36am Aug 22, 2007 12:36am
Looks like the weekly is trying to hold but the upward momemtum has dissapated, with not much downward force currently, although I would say this is the strongest as it was the last move.

G-Man
  • #3,863
  • Aug 22, 2007 12:39am Aug 22, 2007 12:39am
This may go on until top of the hour. So just be patient.
The Dove - Forex Trainer
  • #3,864
  • Aug 22, 2007 12:44am Aug 22, 2007 12:44am
Quoting dove_alliance
I got in at the 35
Dove, this thing was trading sideways all evening. Which one your indicators told you it was time to get in?
  • #3,865
  • Aug 22, 2007 12:46am Aug 22, 2007 12:46am
Just keep it in mind that this trend is up so do not even think of going against the trend......
The Dove - Forex Trainer
  • #3,866
  • Aug 22, 2007 12:47am Aug 22, 2007 12:47am
Quoting trader07
Dove, this thing was trading sideways all evening. Which one your indicators told you it was time to get in?
My 20 minute trend said it was time and I jumped in.
The Dove - Forex Trainer
  • #3,867
  • Aug 22, 2007 12:54am Aug 22, 2007 12:54am
Dove do you use trailing stops?
  • #3,868
  • Aug 22, 2007 12:58am Aug 22, 2007 12:58am
retest of that resistance at the next 1h candle? i thought it would retrace back further but no movement so far?
  • #3,869
  • Aug 22, 2007 1:07am Aug 22, 2007 1:07am
Quoting dove_alliance
My 20 minute trend said it was time and I jumped in.

This is my first post on USDJPY trade,

first of all im no expert, i been in this trade since 2005, for the first few months i did extremly well, (note that i dont use money management, still learning how to used em). i do 1:100 leverage using 1k lot. for the 1st year im still up on my account, but the 2nd year i lost all the equity, now im on minus teritory. this is mostly due to undiscipline, not patient enough and trading almost every pair (i was on GBPUSD and EURUSD on the 1st year).
but the most teribble mistake is TRADING AGAINTS TREND!!!

my current technical is RSI, EMA, and candle pattern. im new to the pivot system, just finished printing "dove" word document.

I just want to say hi to all of u in this forum, and Im sure there will be alot of "stupid" question from me, so please dont be bored

my current live trade is

Long at 117.55 (from last week)

hopefull all be better soon with help of this forum
  • #3,870
  • Aug 22, 2007 1:07am Aug 22, 2007 1:07am
Quoting trader07
Dove do you use trailing stops?
No - I don't - Just limits and stops.
The Dove - Forex Trainer
  • #3,871
  • Aug 22, 2007 1:10am Aug 22, 2007 1:10am
Quoting bocanti
This is my first post on USDJPY trade,

first of all im no expert, i been in this trade since 2005, for the first few months i did extremly well, (note that i dont use money management, still learning how to used em). i do 1:100 leverage using 1k lot. for the 1st year im still up on my account, but the 2nd year i lost all the equity, now im on minus teritory. this is mostly due to undiscipline, not patient enough and trading almost every pair (i was on GBPUSD and EURUSD on the 1st year).
but the most teribble mistake is TRADING AGAINTS TREND!!!

my current technical is RSI, EMA, and candle pattern. im new to the pivot system, just finished printing "dove" word document.

I just want to say hi to all of u in this forum, and Im sure there will be alot of "stupid" question from me, so please dont be bored

my current live trade is

Long at 117.55 (from last week)

hopefull all be better soon with help of this forum
Well, at least you're drawing the interest.
The Dove - Forex Trainer
  • #3,872
  • Aug 22, 2007 1:21am Aug 22, 2007 1:21am
  •  CWH
  • | Joined Feb 2007 | Status: United We Buy, Divided We Sell | 249 Posts
Quoting bocanti
This is my first post on USDJPY trade,

first of all im no expert, i been in this trade since 2005, for the first few months i did extremly well, (note that i dont use money management, still learning how to used em). i do 1:100 leverage using 1k lot. for the 1st year im still up on my account, but the 2nd year i lost all the equity, now im on minus teritory. this is mostly due to undiscipline, not patient enough and trading almost every pair (i was on GBPUSD and EURUSD on the 1st year).
but the most teribble mistake is TRADING AGAINTS TREND!!!

my current technical is RSI, EMA, and candle pattern. im new to the pivot system, just finished printing "dove" word document.

I just want to say hi to all of u in this forum, and Im sure there will be alot of "stupid" question from me, so please dont be bored

my current live trade is

Long at 117.55 (from last week)

hopefull all be better soon with help of this forum
Sorry to hear that. UJ will gonna take long enough to reach 117.XX again.... . Me, on the other hand, have not opened any trades yet.. Still waiting for the right timing..
"If, at first, you don't succeed, try, try, try again" - Winston Churchill
  • #3,873
  • Aug 22, 2007 1:26am Aug 22, 2007 1:26am
long at 11493 target 11560 stop 11480

hope i didn't jump too soon..
  • #3,874
  • Aug 22, 2007 1:30am Aug 22, 2007 1:30am
Quoting mjolimer
long at 11493 target 11560 stop 11480

hope i didn't jump too soon..
One thing I don't believe will happen is reaching the 60..... I got a limit for the R1 at the 08.
The Dove - Forex Trainer
  • #3,875
  • Aug 22, 2007 1:38am Aug 22, 2007 1:38am
Took profit at the 92..... looks like it may be awhile before anything major happens.
The Dove - Forex Trainer
  • #3,876
  • Aug 22, 2007 1:46am Aug 22, 2007 1:46am
Hi all,

I am a Newbie to Forex. Started out live trading about 3 weeks ago and lost so far. Due to lack of understanding of charts and being too rash. Found this thread very interesting and would like to learn from the more experienced traders here.

Spent last couple of days trying to understand dove's pivots.
  • #3,877
  • Aug 22, 2007 1:55am Aug 22, 2007 1:55am
Quoting Islander
If you go to this link, G-Man made an excellent post about Dove´s work AND also posted a Word Document with all of Dove´s posts up to that date.
Its good to print out so that you can quickly refer to it. http://www.forexfactory.com/images/icons/icon12.gif

http://www.forexfactory.com/showpost...postcount=2279
You should download all of his post.
  • #3,878
  • Aug 22, 2007 1:59am Aug 22, 2007 1:59am
Quoting dove_alliance
Well, at least you're drawing the interest.
Just done reading the 12 pages "dove" document

first of all i want to besure that i get the pivot right

this is my daily candle for 8/21

o: 114.87
h: 115.22
l : 114.02
c: 114.23

using pivot calculator i have

r3: 116.16
r2: 115.69
r1: 114.96

Daily Pivot : 114.49
Central Pivot : 114.26

s1: 113.76
s2: 113.29
s3: 112.56

making only 23 spread from daily to central, target should be either s1/r1 (which in this case is r1 and mission completed).

q: im still confuse regarading the 50% retrace between daily & central, does it means after hitting r1 it will retrace 50% downward toward either daily (which is 114.80) or toward central (which is 114.61).

currently im using ema 5 and ema 14 for trend.
  • #3,879
  • Aug 22, 2007 2:02am Aug 22, 2007 2:02am
Quoting dove_alliance
Took profit at the 92..... looks like it may be awhile before anything major happens.
what price did you enter at
  • #3,880
  • Aug 22, 2007 2:05am Aug 22, 2007 2:05am
Quoting trader07
You should download all of his post.

Thanks trader07 and G-Man
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